American Tax Officer-Chapter 588 - 296: Selling oneself to the tax bureau_2
Chapter 588: Chapter 296: Selling oneself to the tax bureau_2
“So what are you really trying to say?”
“What I’m trying to say is, as Binance, the world’s largest cryptocurrency exchange, all cryptocurrency transactions pass through us. We can monitor transactions of currencies like Bitcoin and Ethereum for you, so that no matter what changes may come to cryptocurrencies in the future, just a word from you, Director David, and detailed data will be immediately provided!”
This was the desperate measure Changpeng Zhao and Lin Huaiwei came up with after calming down last night.
The reason it was a desperate measure was that once they did it, they would offend companies and owners of various cryptocurrencies such as Ethereum, Bitcoin, etc.
However, seeing that Director David had no intention of helping them, they had no choice but to engage in this transactional approach.
The Judicial Department was currently biting down hard on them, and without external forces intervening, losing control of their company would be considered light; at worst, they could end up in jail.
Being at the beck and call of the IRS, though it would incite the anger of major cryptocurrency companies, would at least spare them their lives.
After weighing the pros and cons, this was the choice they had to make.
Director David indeed showed some interest upon hearing this.
With the cryptocurrency market being so hot, he actually had a positive outlook on it.
And if the value of cryptocurrencies like Bitcoin and Ethereum continued to rise, it would indeed bring more benefits to their IRS.
But then again, getting 20 billion from the Illuminati was like taking their lives; if Bitcoin took another step up in value in the future, would these people obediently pay their taxes to the IRS?
Director David felt that they likely would not, and if he had to investigate each one by one later on, it would indeed be too draining.
Just like what Changpeng Zhao said now, if their Binance, as the largest cryptocurrency trading platform in the world, were to take over monitoring for the IRS, it would save a lot of trouble.
“You say you can monitor the cryptocurrency situation for our IRS, but how can I trust you?”
Bitcoin and Ethereum platforms might feed him false data in the future, so Binance might as well; Director David didn’t want to be played for a fool.
“It’s simple, because we have no backing in America. Otherwise, the Judicial Department wouldn’t be after us!”
The underlying meaning of what Changpeng Zhao said was actually telling Director David, “if you’ve got my back, then you’ll be my support in the future.”
“Without you, I’m nothing; the Judicial Department will continue to target me.”
“So how could I dare to stab you in the back?”
Director David of course understood, and he nodded slightly, then asked, “I have a question, why is the Judicial Department targeting you, and on what grounds?”
Since this matter hadn’t been made public by the media yet, he was also unclear about the specifics.
“There’s a saying in Huaxia: ‘Those who are not of our kind must have a different heart,’ and it’s the same here in America!”
As he said this, a trace of anger flashed in Changpeng Zhao’s eyes, which he then struggled to calm before continuing, “As for the reason, it’s the same old one, just money laundering!”
“Director David, not a single cryptocurrency company can claim they’re not involved in money laundering. But it’s the users themselves who launder money, not us who merely provide the currency and platform. We have no control if the Judicial Department insists on using this reason to target us, but when they target only us and no one else, that’s definitely selective enforcement!” Lin Huaiwei added indignantly.
After pondering with his hand supporting his chin, Director David picked up the phone on the desk, “Come to my office.”
Soon, Kepel entered through the door.
“Take the gentlemen to the lounge for a cup of coffee,” he said.
Although anxious to receive a response, Changpeng Zhao and Lin Huaiwei understood the situation and stood up to follow Kepel to an office on the same floor.
Upon entering, Changpeng Zhao could hardly contain himself and blurted out, “Wade, do you think he’ll agree to the conditions we’ve set forth?”
“Don’t rush, Changpeng,” I’ve already seen it; he obviously has some interest. However, this after all involves the Judicial Department, and I think he will also need to consult with their upper echelons.”
“Alright, I hope their higher-ups will agree.”
“Rest assured, the benefits of cryptocurrency are so great that only with our help will the Tax Bureau be able to obtain more benefits in the future, so their higher-ups are very likely to agree.”
“Let’s hope so…”
The two of them guessed correctly. At this moment, David was talking to Donald about this issue. Because it involved the Judicial Department, if he wanted to intervene, he would have to get some backing from the headquarters.
Otherwise, if it were to be discovered later, it could potentially be attacked under accusations of overstepping his authority.
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“If Binance helps us to supervise all cryptocurrency… This could indeed allow us to have detailed data at any moment, but this also involves the Judicial Department…”
It was clear that Donald was somewhat tempted by Binance’s proposal.
Because he also understood that the world of cryptocurrency changes every day. If Binance acted as their ‘monitor,’ then they could indeed keep abreast of all transactions within the industry and prevent major cryptocurrency companies from evading taxes.
“Then David, what’s your opinion?”
“If Changpeng Zhao loses control of Binance, then certainly other cryptocurrency companies, or they will be split apart, and by then, if those guys collude to fool us, it would be really difficult to investigate. Even if we wanted to investigate, it would take a lot of effort.”
Changpeng Zhao’s words already made it clear that the Judicial Department was targeting their single cryptocurrency company, which meant that the others must be insiders.
And David’s concern was that once Changpeng Zhao was out, if those cryptocurrency companies managed to collude, future tax remittances to the Tax Bureau might be shortchanged, which would certainly be troublesome.
“So, you’re saying we should give him a hand?”
“I believe that having him to supervise cryptocurrency is more beneficial for us.”
There was silence on the other end of the phone for about a minute, and then the voice came through, “Do you have confidence in dealing with the Judicial Department?”
“There is some confidence.”
After all, people at the Judicial Department are human, and humans have weak spots, so naturally, David felt confident.
“If that’s the case, then do what you need to do. I’ll communicate properly with the Director about this issue on my side.”
“Alright then, goodbye Deputy Director Donald.”
After hanging up the phone, David immediately instructed Kepel to notify Changpeng Zhao and Lin Huaiwei to come over.
After the two entered the office, their nerves were stretched to the limit, fearing that David would reject them again, but fortunately, David’s next words enveloped them in tremendous joy.
“Tell me, who from the Judicial Department is investigating you?”
Suppressing the elation in his heart, Changpeng Zhao spoke, “They sent an investigation team, led by a Special Prosecutor named Morfield, who is currently in Seattle.”
David thought carefully in his mind; he had no information about this person. Then he responded, “Alright, when you go back…”
Ten minutes later, Changpeng Zhao and Lin Huaiwei exited the office. The two exchanged glances, showing both relief and a wry smile.
Relieved because they shouldn’t have to worry anymore about being sent to jail or having control of Binance taken away from them, and the wry smiles were because as of today, they would be in the Tax Bureau’s service.
…
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PS: Many brothers have said they do not wish for David to help Changpeng Zhao, but after careful consideration, the plot cannot proceed without the help—it’s a trade where both sides have needs to fulfill, so it can’t be considered a trap, right?
